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February 18 2021 | Buying/Selling

Are Seniors Downsizing in the Toronto Housing Market?

What a crazy time it has been for Toronto real estate over the last 12 months. As a realtor in Toronto, I have seen some crazy deals. Properties selling for hundreds of thousands over asking. 40 offers one a single listing. Bidding wars galore! It has become the norm to put in your offer without any conditions and hope for the best. I have recently been working with a wonderful older couple from London, Ontario and they just purchased a beautiful 2.2 million dollar condo near the Old Mill. This got me thinking about the question “are seniors even downsizing”? And if they aren’t “what will happen to the Toronto housing market”?

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